this post was submitted on 23 Jul 2023
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Skyrocketing insurance is already on the way. Places that don't outright lose access to insurers will continue to see massive increases over the next decade. US Insurers will all be following suit soon. Property insurance got killed last year and is already getting hit hard this year.
https://www.insurancejournal.com/news/national/2023/07/20/731434.htm
It's a very bad time to be an insurance company, especially with dead weight like Florida, and parts of Texas (hurricanes + mold/water damage from losing power for a week, lol) that are constantly getting destroyed and rebuilt on the exact same floodplains.
And California. There's a few reasons why a company as big as State Farm (the largest home insurer in the state) stopped writing new home policies there, largely the natural disaster risk.
https://calmatters.org/housing/2023/05/state-farm-california-insurance/